World Politics

McConnell, Schumer, Trump admin. announce stimulus deal

Senate releases some provisions in $2 trillion emergency package  

Senate leaders released some of the toplines in a massive $2 trillion emergency package to help counter the effects of the coronavirus on American life, offering $1,200 checks to adult individuals and a financial lifeline to businesses and industries reeling from the rapidly expanding virus.

The full text of the bill has yet to be released but the Senate is planning to vote on soon. The Republican and Democratic leaders of the Senate Appropriations Committee released the details of what is included in one area of the massive bill and how $330 billion would be used.  

Here are some of the top provisions laid out:

  • $150 billion for hospitals and medical centers to handle surging caseloads
  • More than $25 billion for food stamps and other food assistance programs and $9.5 billion to the Department of Agriculture to support agricultural producers
  • $10.5 billion for the Department of Defense, including $1.4 billion for deployments of the National Guard and$ 1 billion for the Defense Production Act to help the fast-track production of needed medical supplies to combat the coronavirus.
  • $5 billion is provided for the Community Development Block Grant (CDBG) program to enable nearly 1,240 states, counties, and cities to rapidly respond to COVID-19 and the economic and housing impacts caused by it.
  • $45 billion for FEMA Disaster Relief Fund and another $4.3 billion for the Centers for Disease Control
  • $11 billion for vaccines, therapeutics, diagnostics and other medical needs which will be spread among several agencies to help discover a cure and treatment options for the virus 
  • $400 million to help states as they prepare for elections amid the virus
  • $45 billion in disaster fund relief for “the immediate needs” of state, local, tribal, and territorial governments. Another $31 billion to help states keep schools and colleges open and operating on-line.
  • $3 billion to help more than 4.5 million low-income households in HUD-assisted housing to avoid eviction.
  • Authorizes $350 billion worth of loans to small businesses, some of which will be forgiven later
  • $562 million for the Small Business Administration Disaster Loans Program to offer loans to businesses hit and $1.5 billion to the Economic Development Administration to support grants for states and local communities 
  • $10 billion to be disbursed to airports by the Federal Aviation Administration, $25 billion for local bus and rail systems and another $1 billion to help Amtrak offset its losses

– Ledge King, Christal Hayes and Nicholas Wu 

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